WCCC to Submit USD750 Million of Renewable Energy Projects for Funding
The UN’s $10 billion flagship green fund has signaled it is ready to support clean energy & climate resilience projects other major banks find too risky! WCCC aims to assist members submit USD750 million of Renewable Energy Projects to the Green Climate Fund (GCF) before December 31st 2016, and is calling upon Members to nominate projects they need funding for in Developing Countries.
Last week the GCF Board funded nine new initiatives worth $257 million, ranging from a coastal protection scheme in Tuvalu to a plan to boost energy efficiency in Armenia, but even so the board is still more than USD2 billion off meeting its goal of approving projects worth $2.5 billion by the end of 2016. At the same meeting the Board passed a set of new interim risk & investment guidelines stating, “the fund should be able to take on risks that other funds/institutions are not able or willing to take.”
For Members not familiar with the Green Climate Fund & its mandate, WCCC can assist you prepare submissions for funding &/or grants to the Green Climate Fund. It is somewhat different to other financial institutions & banks as your submission must be made through a ‘Green Climate Fund Accredited Entity’ relevant to the Developing Country, & accompanied by a letter of support from the ‘Green Climate Fund Focal Point’ of that nation.